Market Commentary

“I guess we’re going to find out which meetings could have been emails after all...” —unknown

As our country has taken further precautions to slow the spread of COVID-19, our thoughts and prayers are with those affected, whether directly or indirectly. Last night, as futures rapidly sold down, the Federal Reserve enacted another interest-rate cut, this time taking rates to 0.00%.

In response to the decrease in economic activity that comes from "self-quarantining" and social distancing, Washington is also taking measures in an attempt to keep our economy on “life-support”. What do all the measures mean and how will they impact the economy and the markets? That’s for the smartest minds in the World to try and predict, but the range of predictions will likely be expansive.

What the Portfolio Management Team at Sphere recognizes right now is that we could possibly slip into economic recession and the Fed is almost out of the necessary tools to execute its role with any impact. Washington has introduced some economic stimulus packages, in particular one aimed at Small Businesses that we think could help stabilize payrolls in the short term.

As an investor, we see new opportunities emerging in the coming months. However, it doesn’t mean that our clients, our communities, and even we as a firm, don’t possibly have some hard weeks and months ahead. We believe we come out of this economic slowdown--possible recession, with new ideas and passions for how to make the world safer, how to make medicine more efficient, how to help families that rely on government services when they can’t access them, and how to be less reliant on goods manufactured in China.

In the meantime, we encourage you to stay safe, to limit interactions, to enjoy whatever peace might come from a week or two of social distancing, and keep following our commentary for more updates.

We appreciate your business,

The Sphere Wealth Management Team

Sphere, LLC is a Registered Investment Adviser. Advisory Services are only offered to clients or prospective clients where Sphere, LLC and its representatives are properly licensed or exempt from licensure. Investing involves risk and possible loss of principal capital. No advice may be rendered by Sphere, LLC unless a client service agreement is in place. Additional information about Sphere, LLC also is available on the SEC's website

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